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Monsanto India gains on parent's bullish outlook

Reuters

Reuters Market Eye - Monsanto India(MNSN.NS) shares up 5 percent after earlier hitting a record high at 2,414 rupees after parent Monsanto Co (MON.N), the world's largest seed company, beat quarterly forecasts, improved its near-term outlook and said it planned to double earnings over the next five years.

The parent also announced authorization of a $10 billion share repurchase and cited strong progress on a new farm data business platform.

Monsanto Co owns 72.14 percent in its Indian arm, BSE data shows.

(Reporting by Abhishek Vishnoi)